Traders Buy Coca-Cola Co. (KO) on Weakness
Investors purchased shares of Coca-Cola Co. (NYSE:KO) on weakness during trading on Friday. $127.00 million flowed into the stock on the tick-up and $44.88 million flowed out of the stock on the tick-down, for a money net flow of $82.12 million into the stock. Of all companies tracked, Coca-Cola had the 4th highest net in-flow for the day. Coca-Cola traded down ($0.18) for the day and closed at $43.92
A number of research firms recently weighed in on KO. Susquehanna restated a “hold” rating on shares of Coca-Cola in a research note on Sunday, July 17th. Vetr restated a “buy” rating on shares of Coca-Cola in a research note on Thursday, July 28th. Zacks Investment Research upgraded shares of Coca-Cola from a “sell” rating to a “hold” rating in a research note on Friday, July 8th. Societe Generale set a $46.00 target price on shares of Coca-Cola and gave the stock a “neutral” rating in a research note on Thursday, April 28th. Finally, Sanford C. Bernstein set a $49.00 price target on Coca-Cola and gave the company a “buy” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $46.90.
The firm’s 50-day moving average price is $44.56 and its 200 day moving average price is $44.76. The stock has a market capitalization of $189.56 billion and a price-to-earnings ratio of 25.27.
Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. During the same quarter last year, the firm posted $0.63 earnings per share. The firm earned $11.50 billion during the quarter, compared to the consensus estimate of $11.69 billion. Coca-Cola’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts forecast that Coca-Cola Co. will post $1.91 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.19%.
In other news, EVP J Alexander Douglas, Jr. sold 572,748 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $45.25, for a total value of $25,916,847.00. Following the completion of the sale, the executive vice president now directly owns 291,675 shares in the company, valued at approximately $13,198,293.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds and institutional investors recently added to or reduced their stakes in KO. Morgan Stanley raised its position in Coca-Cola by 3.6% in the fourth quarter. Morgan Stanley now owns 15,781,727 shares of the company’s stock worth $677,983,000 after buying an additional 553,607 shares in the last quarter. Legacy Capital Partners Inc. raised its position in Coca-Cola by 0.4% in the fourth quarter. Legacy Capital Partners Inc. now owns 94,560 shares of the company’s stock worth $4,063,000 after buying an additional 363 shares in the last quarter. Gulf International Bank UK Ltd raised its position in Coca-Cola by 2.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 1,225,683 shares of the company’s stock worth $52,655,000 after buying an additional 26,450 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Coca-Cola by 1.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 262,173 shares of the company’s stock worth $11,263,000 after buying an additional 3,434 shares in the last quarter. Finally, Aviance Capital Partners LLC raised its position in Coca-Cola by 44.7% in the fourth quarter. Aviance Capital Partners LLC now owns 57,781 shares of the company’s stock worth $2,482,000 after buying an additional 17,853 shares in the last quarter.
The Coca-Cola Company is a beverage company. The Company owns or licenses and markets over 500 nonalcoholic beverage brands, primarily sparkling beverages but also a range of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
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